Business group ups UK growth forecasts for the next two years March 10, 2015 The British Chambers of Commerce (BCC) has upgraded its growth forecast for British GDP for the next two years, based on better-than-expected growth in household consumption and services. It now predicts that GDP growth will be 2.7 per cent this year, and 2.6 per cent next year. The BCC also expects that GDP growth in [...]
Online grocery delivery firm Ocado follows first profit with a bigger share of the market March 10, 2015 OCADO yesterday reported an acceleration in sales growth of 15.2 per cent to £252m in the first quarter of its financial year. The online supermarket exceeded analysts’ estimates and shows a gain in the online grocery and overall market shares. Revenue rose by 19.2 per cent to £271m in the 12 weeks to 22 February, [...]
Five-a-side football firm Goals Soccer Centres chases US expansion after World Cup boosts interest in game March 10, 2015 Goals Soccer Centres has scored a 10 per cent rise in full year pre-tax profits to £10.6m as its US business proved a hit. The five-a-side football pitch operator said like-for-like sales were up 13 per cent at its Los Angeles site, helping total sales rise by three per cent to £34.7m. The firm plans [...]
Slump in home loans expected to be temporary March 10, 2015 Agents and brokers are expecting a pick up in mortgage lending this year after a sluggish end to 2014. Meanwhile, one of the UK’s most-watched house price indicators has changed hands. Gross mortgage lending was 8.1 per cent lower in the final three months of 2014 than in the three months to September, according to [...]
Esure shares slide as payouts and competition hurt profits March 10, 2015 SHARES in motor insurer Esure crashed by nine per cent yesterday after the company reported a slump in profits. Full-year profits for 2014 fell 12.8 per cent to £103.8m, as increased competition and higher claims ate into its sales. The company was also forced to reduce its final dividend to 11.7p from 13.3p. Gross written [...]
Analyst predicts Barclays will cut investment arm March 10, 2015 Barclays will struggle to reform its investment banking operations, and could have to announce a series of major cuts to the unit, Macquarie analyst Ed Firth predicted yesterday. Chief executive Antony Jenkins and finance boss Tushar Morzaria last week committed to the arm’s future in the bank, but did note that more changes would be [...]
Gather to see the Bedlam burials March 10, 2015 For more pictures and full story read: Bedlam at Liverpool Street Station: 3,000 plague skeletons excavated to make way for Crossrail A gruesome discovery at Liverpool Street Station is coming to light as archaeologists begin excavating skeletons from a Bedlam burial ground. Work on the new Crossrail uncovered the remains of more than 5,000 [...]
Ailing Australian car makers see a subsidy U-turn March 10, 2015 AUSTRALIA’s government yesterday performed an abrupt U-turn after announcing it would no longer cut AU$500m (£254m) in subsidies for its automotive sector. A commitment to axe the fund had been made in Prime Minister Tony Abbott’s budget last year, but the cut led to fears the manufacturers would bring forward their plans for factory closures. [...]
Audi’s margins take a hit as it tries to overtake rival BMW March 10, 2015 German car maker Audi yesterday said that the brakes had been put on its margins in 2014 as competition at the top end of the market stepped up a gear. The company has accelerated investment in recent years as it seeks to overtake BMW as the world’s largest manufacturer of high-end cars. But the investment [...]
Firms fear UK risks losing tax competitiveness March 10, 2015 BRITAIN’S tax system has become more competitive over the past five years, but moves to change the way international companies pay tax could undo some of that good work, analysts at EY said today. The professional services firm’s survey found that 68 per cent of businesses believe the tax system has become more competitive under [...]
